Horizon Technology Finance provided an $8 million venture loan facility to food technology company Clara Foods. Of the total loan, $5 million was initially funded.
Clara Foods is a food technology company that is developing animal-free proteins as ingredients for food and beverages, including egg proteins designed to match the taste, texture and culinary functionality of a real egg.
“Through its innovative protein platform technology, Clara Foods is making significant progress in creating a remarkable animal-free egg,” Gerald A. Michaud, president of Horizon Technology Finance, said. “We expect its products will find a significant audience as consumers continue to increase their consumption of alternative protein sources as well as more sustainable food sources. We are pleased to support Clara Foods in bringing their animal-free proteins to a large and growing market.”
“We appreciate Horizon’s support and confidence in what we are accomplishing at Clara Foods,” Arturo Elizondo, CEO and co-founder of Clara Foods, said. “We are excited to bring to market sustainable, ethical and affordable alternative proteins to meet the rapidly expanding consumer demand for animal-free products that help transform our food system from the ground up. Horizon’s investment will help facilitate our go-to-market strategy and grow our business.”
Horizon Technology Finance is a finance company providing capital in the form of secured loans to venture capital-backed companies in the technology, life science, healthcare information, and services and sustainability industries.
